By Yeliz Candemir
ISTANBUL--Akbank TAS (AKBNK.IS), Turkey's second-largest bank by
market value, Thursday posted a 71% rise in its second-quarter net
profit, boosted by trading gains, rising net interest income and
growth in fee income.
The Istanbul-based bank said in a statement to the Bourse
Istanbul that its unconsolidated net profit for the period rose to
914.08 million Turkish lira ($474.8 million) from TRY535 million a
year earlier. The net profit was slightly lower than the forecast
of TRY957.3 million by five analysts surveyed by Dow Jones
Newsires.
Net interest income rose to TRY1.5 billion from TRY1.196
billion.
Its trading gains were TRY363 million in the second quarter of
this year compared with a TRY64 million loss in the same period of
last year.
Akbank's shares closed 0.5% higher at TRY7.58, while the overall
Istanbul market closed 0.2% lower.
Write to Yeliz Candemir at yeliz.candemir@dowjones.com
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